Veeva Systems Inc (VEEV) Stake Lowered by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in Veeva Systems Inc (NYSE:VEEV) by 8.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,357 shares of the technology company’s stock after selling 16,132 shares during the quarter. California State Teachers Retirement System owned approximately 0.13% of Veeva Systems worth $10,118,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in VEEV. Vanguard Group Inc. increased its position in Veeva Systems by 3.3% during the second quarter. Vanguard Group Inc. now owns 9,125,993 shares of the technology company’s stock worth $559,515,000 after acquiring an additional 290,865 shares during the period. BlackRock Inc. increased its position in Veeva Systems by 44.9% during the second quarter. BlackRock Inc. now owns 5,812,749 shares of the technology company’s stock worth $356,379,000 after acquiring an additional 1,801,439 shares during the period. FMR LLC increased its position in Veeva Systems by 50.9% during the second quarter. FMR LLC now owns 3,456,402 shares of the technology company’s stock worth $211,912,000 after acquiring an additional 1,166,372 shares during the period. First Trust Advisors LP increased its position in Veeva Systems by 6.1% during the third quarter. First Trust Advisors LP now owns 2,212,827 shares of the technology company’s stock worth $124,826,000 after acquiring an additional 126,869 shares during the period. Finally, State Street Corp increased its position in Veeva Systems by 52.1% during the second quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock worth $113,851,000 after acquiring an additional 635,842 shares during the period. 72.25% of the stock is currently owned by institutional investors.

In other news, SVP Jonathan Faddis sold 37,500 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $56.38, for a total value of $2,114,250.00. Following the sale, the senior vice president now owns 39,149 shares in the company, valued at approximately $2,207,220.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy S. Cabral sold 50,000 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $55.74, for a total transaction of $2,787,000.00. Following the completion of the sale, the chief financial officer now owns 50,000 shares in the company, valued at approximately $2,787,000. The disclosure for this sale can be found here. Insiders have sold 251,929 shares of company stock worth $14,495,783 in the last quarter. Corporate insiders own 19.17% of the company’s stock.

Shares of Veeva Systems Inc (NYSE VEEV) opened at $56.07 on Tuesday. Veeva Systems Inc has a 52 week low of $40.50 and a 52 week high of $68.07. The firm has a market cap of $7,944.89, a price-to-earnings ratio of 65.20, a price-to-earnings-growth ratio of 4.56 and a beta of 1.60.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.09. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The firm had revenue of $176.10 million for the quarter, compared to the consensus estimate of $171.99 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business’s revenue was up 23.3% compared to the same quarter last year. equities research analysts expect that Veeva Systems Inc will post 0.68 earnings per share for the current fiscal year.

VEEV has been the topic of a number of research reports. Zacks Investment Research lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. BidaskClub raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research report on Friday, October 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Wednesday, December 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Veeva Systems in a research report on Thursday, October 12th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $67.45.

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About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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